Greg Piper
About Greg Piper
Gregory F. Piper is an independent director of World Kinect Corporation, appointed effective July 17, 2025. He has 35+ years in energy, commodities, agriculture, spanning operational leadership, M&A and business development; he holds a B.S. in Petroleum Engineering (Colorado School of Mines) and an MBA (McCombs School of Business, University of Texas) . Piper was appointed to the Compensation Committee upon joining the Board and is covered by the company’s standard non‑employee director compensation and a director indemnification agreement; the company disclosed no related‑party transactions under Item 404(a) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| CP Energy (private midstream) | Director and Chief Executive Officer | 2014–2020 | Led crude oil/natural gas purchasing, transportation, marketing, risk management |
| Gavilon Energy (private midstream/refined products) | Chief Executive Officer | pre‑2014 (through sale in 2014) | Led spin‑off from Gavilon Group and subsequent sale to NGL Energy Partners |
| Gavilon Group | Chief Commercial Officer | pre‑2013 | Directed strategic initiatives including sale of global agriculture division to Marubeni in 2013 |
| Advisory practice | Senior independent adviser to executives/boards/fund managers | Since 2020 | Independent strategic advisory across energy/commodities/agriculture sectors |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| None disclosed (public company boards) | — | — | No current public company directorships disclosed by WKC |
Board Governance
- Committee memberships:
- Compensation Committee member (effective July 17, 2025) .
- A Form 4 filed Sept 18, 2025 reports a 276‑RSU grant on Sept 16, 2025 “in connection with appointment to the governance committee,” indicating Piper also serves on the Governance Committee as of that date .
- Independence: Board determined Compensation Committee members are independent; Piper is a non‑management director and the July 2025 8‑K affirms no Item 404(a) related‑party transactions .
- Attendance and engagement: In 2024, the Board met four times; each director attended at least 75% of Board and committee meetings. Independent directors meet in executive session; the Lead Independent Director presides over those sessions. Piper joined in 2025; his specific attendance for 2025 is not yet disclosed .
- Committee effectiveness: Compensation Committee met seven times in 2024; retains an independent compensation consultant; no interlocks/insider participation reported .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual Board cash retainer | $100,000 | Pro‑rated if partial‑year service |
| Lead Independent Director fee | $40,000 | Not applicable to Piper unless designated |
| Committee membership fees | $15,000 (Audit); $10,000 (Compensation, Technology & Operations, Sustainability); $5,000 (Nominating Subcommittee) | Per committee; pro‑rated for partial‑year service |
| Committee chair fees | $35,000 (Audit Chair); $30,000 (Compensation/Technology Chairs); $20,000 (Governance/Sustainability Chairs); $15,000 (Nominating Subcommittee Chair) | Not applicable unless serving as chair |
Piper will receive cash components on a pro‑rated basis for service commencing July 17, 2025 .
Performance Compensation
Directors receive time‑based RSUs; there are no performance‑based metrics tied to non‑management director pay .
| Award | Grant detail | Vesting | Value/Shares |
|---|---|---|---|
| Standard annual RSU for Board service (pro‑rated) | Granted upon appointment to reflect pro‑rated portion of $175,000 annual equity grant | Vest on earlier of day prior to 2026 annual meeting or 1‑year from grant | Pro‑rated value of $175,000; number of RSUs not disclosed in 8‑K |
| Governance Committee RSU | 276 RSUs granted Sept 16, 2025 | Vest on earlier of day prior to next annual meeting or 1‑year from grant | 276 RSUs; beneficial ownership after grant: 5,737 shares |
Additional equity practices: Non‑employee directors received $175,000 RSUs for board service in 2024, plus incremental RSUs for committee membership/chair roles; RSUs vest by the next annual meeting or one year. The 2025 Omnibus Plan caps non‑employee director annual compensation at $850,000 and prohibits tax gross‑ups, option/SAR repricing, and includes minimum vesting requirements .
Other Directorships & Interlocks
| Company | Role | Public/Private | Potential Interlock/Conflict |
|---|---|---|---|
| CP Energy | Director & CEO (former) | Private | No WKC‑disclosed related‑party transactions under Item 404(a) |
| Gavilon Energy | CEO (former) | Private | None disclosed |
| Gavilon Group | Chief Commercial Officer (former) | Private | None disclosed |
| Advisory practice | Senior independent adviser | Private | None disclosed |
Expertise & Qualifications
- Petroleum engineering and MBA credentials; deep domain expertise across energy logistics/midstream, trading, and corporate development .
- M&A execution track record: led spin‑off of Gavilon Energy and sale to NGL Energy Partners; led sale of Gavilon’s global agriculture division to Marubeni .
- Strategic advisory experience since 2020 with executive teams and boards in energy/commodities/agriculture .
Equity Ownership
| Metric | Amount | Notes |
|---|---|---|
| Beneficial ownership (common shares) | 5,737 | As reported post‑grant on Form 4 (filed Sept 18, 2025) |
| Unvested RSUs | 276 | Sept 16, 2025 grant; vest earlier of next annual meeting or 1‑year |
| Ownership as % of shares outstanding | ~0.010% | 5,737 / 56,627,253 shares outstanding as of April 10, 2025 record date |
Director stock ownership guideline: Accumulate at least five times the $100,000 annual cash retainer ($500,000) within five years; vested RSUs and deferred stock units count toward compliance. The company states all non‑management directors were in compliance as of the 2025 proxy; Piper joined after that date and will have five years to comply .
Insider Trades
| Date | Form | Transaction | Security | Quantity | Price | Post‑transaction holdings |
|---|---|---|---|---|---|---|
| 2025‑09‑16 | Form 4 | RSU grant in connection with Governance Committee appointment | RSUs | 276 | $0.00 | 5,737 shares beneficially owned after grant |
Governance Assessment
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Strengths
- Independent director with relevant energy/midstream operations and M&A expertise; immediate placement on Compensation Committee enhances board skills mix .
- No related‑party transactions disclosed upon appointment; company governance features include prohibition on tax gross‑ups, no option/SAR repricing, and director compensation caps, supporting investor alignment .
- Clear director compensation structure with cash retainer, committee fees, and time‑based RSUs; ownership guideline of $500,000 within five years promotes “skin‑in‑the‑game” .
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Watch items
- As a newly appointed director, total equity ownership is modest (5,737 shares, ~0.010%); monitor progress toward the $500,000 guideline over the five‑year compliance window .
- Confirm ongoing committee assignments post‑2025 (Governance Committee service indicated by Form 4) and any future chair roles to assess incremental fees/equity and influence over governance practices .
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Red flags
- None identified: no Item 404 related‑party exposure; board‑level attendance and executive session practices; independent Compensation Committee with external consultant; company policies against repricing and tax gross‑ups .